Monday, June 3, 2013

National Retail Properties Inc. Closes Offering of Depositary Shares Representing Series E Cumulative Redeemable Preferred Stock


Orlando, FL - National Retail Properties, Inc. (NYSE: NNN) (the “Company”) announced that it has closed an underwritten public offering of 11,500,000 depositary shares, each representing a 1/100th interest in a share of its newly designated 5.70% Series E Cumulative Redeemable Preferred Stock, at a price of $25.00 per depositary share, which reflects the full exercise of the underwriters’ option to purchase 1,500,000 additional depositary shares.


 The Company estimates that the net proceeds from the offering will be approximately $277.6 million, after deducting the underwriting discount and estimated offering expenses.  The Company intends to use the net proceeds from the offering for general corporate purposes, which may include funding future property acquisitions.

 Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and Raymond James & Associates, Inc. acted as joint book-running managers for the offering. 

RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated, Robert W. Baird & Co. Incorporated, BB&T Capital Markets, a division of BB&T Securities, LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Capital One Southcoast, Inc., Janney Montgomery Scott LLC and Ladenburg Thalmann & Co. Inc. acted as co-managers for the offering.

 National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of March 31, 2013, the company owned 1,636 properties in 47 states with a gross leasable area of approximately 19.3 million square feet.

For a complete copy of the company’s news release, please contact:



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